Montgomery Investment Management Inc. lessened its position in Deere & Company (NYSE:DE - Free Report) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,630 shares of the industrial products company's stock after selling 1,420 shares during the period. Deere & Company accounts for about 5.0% of Montgomery Investment Management Inc.'s portfolio, making the stock its 5th biggest holding. Montgomery Investment Management Inc.'s holdings in Deere & Company were worth $13,033,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after purchasing an additional 798 shares during the period. Providence Capital Advisors LLC increased its holdings in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after purchasing an additional 303 shares during the period. Bragg Financial Advisors Inc increased its holdings in Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after purchasing an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Deere & Company in the first quarter valued at about $13,588,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of DE opened at $451.43 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a 50-day moving average of $486.80 and a 200-day moving average of $489.36. The company has a market cap of $122.04 billion, a PE ratio of 23.60, a P/E/G ratio of 2.94 and a beta of 1.03. Deere & Company has a one year low of $387.03 and a one year high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the business posted $6.29 EPS. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Oppenheimer decreased their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research note on Thursday, September 18th. Robert W. Baird decreased their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. DA Davidson decreased their price objective on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Truist Financial decreased their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Finally, Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and a consensus target price of $518.06.
Read Our Latest Analysis on DE
About Deere & Company
(
Free Report)
Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.
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